Harbor Capital Advisors Inc. Has $1.01 Million Position in Revolution Medicines, Inc. $RVMD

Harbor Capital Advisors Inc. cut its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 63.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,590 shares of the company’s stock after selling 36,733 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Revolution Medicines were worth $1,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of Revolution Medicines by 45.1% during the 3rd quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock worth $39,000 after purchasing an additional 260 shares in the last quarter. CWM LLC raised its stake in Revolution Medicines by 171.3% during the 2nd quarter. CWM LLC now owns 917 shares of the company’s stock worth $34,000 after buying an additional 579 shares during the period. Banque Transatlantique SA acquired a new position in Revolution Medicines during the 1st quarter worth approximately $42,000. Quarry LP bought a new position in Revolution Medicines in the first quarter worth approximately $50,000. Finally, Twin Tree Management LP acquired a new stake in Revolution Medicines in the first quarter valued at approximately $58,000. 94.34% of the stock is owned by institutional investors.

Insider Activity

In other Revolution Medicines news, COO Margaret A. Horn sold 4,847 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total transaction of $372,346.54. Following the transaction, the chief operating officer owned 141,053 shares of the company’s stock, valued at $10,835,691.46. This trade represents a 3.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark A. Goldsmith sold 15,394 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total value of $1,182,567.08. Following the completion of the transaction, the insider owned 232,469 shares in the company, valued at $17,858,268.58. The trade was a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 183,792 shares of company stock worth $12,449,240. Corporate insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research report on Wednesday, October 8th. The Goldman Sachs Group boosted their price target on shares of Revolution Medicines from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Stifel Nicolaus assumed coverage on shares of Revolution Medicines in a research note on Wednesday, October 15th. They issued a “buy” rating and a $85.00 price objective on the stock. Raymond James Financial lifted their price objective on shares of Revolution Medicines from $72.00 to $76.00 and gave the company a “strong-buy” rating in a report on Friday, October 17th. Finally, Royal Bank Of Canada assumed coverage on shares of Revolution Medicines in a report on Monday, November 3rd. They issued an “outperform” rating and a $77.00 target price on the stock. Four analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and a consensus target price of $78.50.

Revolution Medicines Price Performance

RVMD opened at $80.75 on Friday. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $81.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05. The company has a market capitalization of $15.61 billion, a price-to-earnings ratio of -15.62 and a beta of 0.96. The firm’s fifty day moving average price is $69.86 and its two-hundred day moving average price is $50.69.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, November 5th. The company reported ($1.61) EPS for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same quarter in the prior year, the firm posted ($0.94) EPS. As a group, analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Revolution Medicines Company Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.